Senate Bill S1701

2017-2018 Legislative Session

Relates to establishing a program for financial transitional living services for foster children

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee Finance Committee


  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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2017-S1701 (ACTIVE) - Details

See Assembly Version of this Bill:
A8096
Current Committee:
Senate Finance
Law Section:
Social Services Law
Laws Affected:
Add §393, Soc Serv L
Versions Introduced in Other Legislative Sessions:
2015-2016: S7720
2019-2020: S5014, A5198
2021-2022: S5421, A5490
2023-2024: S6844, A1979

2017-S1701 (ACTIVE) - Summary

Relates to establishing a program for financial transitional living services for foster children; establishes independent development savings accounts for foster children over the age of 16; requires foster children to attend financial literacy and independent living classes.

2017-S1701 (ACTIVE) - Sponsor Memo

2017-S1701 (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   1701
 
                        2017-2018 Regular Sessions
 
                             I N  S E N A T E
 
                             January 10, 2017
                                ___________
 
 Introduced  by  Sen.  PARKER -- read twice and ordered printed, and when
   printed to be committed to the Committee on Children and Families
 
 AN ACT to amend the social services law, in relation to  establishing  a
   program for financial transitional living services for foster children

   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. The social services law is amended by adding a new  section
 393 to read as follows:
   §  393.  PROGRAM FOR FINANCIAL TRANSITIONAL LIVING SERVICES FOR FOSTER
 CHILDREN. 1. THE OFFICE OF CHILDREN AND FAMILY SERVICES SHALL  ESTABLISH
 A PROGRAM TO ASSIST FOSTER CHILDREN IN THE CARE, CUSTODY OR GUARDIANSHIP
 OF  AN  AUTHORIZED AGENCY TO ACHIEVE FINANCIAL SECURITY AND INDEPENDENCE
 AS THE CHILDREN TRANSITION TO INDEPENDENT LIVING.
   2. THE OFFICE OF CHILDREN AND FAMILY  SERVICES  SHALL  ENTER  INTO  AN
 AGREEMENT  WITH FINANCIAL INSTITUTIONS TO ESTABLISH INDEPENDENT DEVELOP-
 MENT SAVINGS ACCOUNTS FOR FOSTER CHILDREN OVER THE AGE OF SIXTEEN IN THE
 STATE. THE AGREEMENT MUST:
   (A) PROHIBIT A FOSTER CHILD FROM WITHDRAWING MONEY  FROM  THE  SAVINGS
 ACCOUNT UNTIL THE EARLIER OF:
   (I)  THE  FIRST ANNIVERSARY OF THE DATE THE FIRST DEPOSIT IS MADE INTO
 THE SAVINGS ACCOUNT; OR
   (II) THE DATE THE BALANCE IN  THE  SAVINGS  ACCOUNT  FIRST  EQUALS  OR
 EXCEEDS TWO THOUSAND DOLLARS;
   (B)  AUTHORIZE  A  FOSTER  CHILD  TO  WITHDRAW  MONEY FROM THE SAVINGS
 ACCOUNT ONLY IN PERSON AT THE FINANCIAL INSTITUTION;
   (C) PROVIDE THAT THE BALANCE IN THE SAVINGS ACCOUNT MAY NOT EXCEED TWO
 THOUSAND DOLLARS AND ESTABLISH PROCEDURES FOR THE TRANSFER OR WITHDRAWAL
 OF THE AMOUNT OF MONEY THAT EXCEEDS TWO THOUSAND DOLLARS WHEN NECESSARY;
   (D) REQUIRE THE OFFICE OF CHILDREN AND FAMILY SERVICES AND THE  FINAN-
 CIAL  INSTITUTION  TO  WORK  TOGETHER  TO  ENCOURAGE THE FOSTER CHILDREN
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD07347-01-7
              

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